Beacon Financial Advisory LLC Invests $339,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Beacon Financial Advisory LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,481 shares of the company’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC lifted its stake in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR stock opened at $111.28 on Friday. The firm has a 50-day moving average of $75.56 and a 200 day moving average of $52.26. The company has a market cap of $253.50 billion, a P/E ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $111.55.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Northland Securities boosted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday. Mizuho increased their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday. Citigroup boosted their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Cantor Fitzgerald raised their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.44.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.